Texas County & District Retirement System, Austin, committed $100 million from the pension fund's $2.7 billion direct lending portfolio to a fund offered by Atalaya Capital Management.
Investment officers of the $29.1 billion pension fund made the allocation to Atalaya Asset Income Fund V, a direct lending fund, a transaction report showed. Atalaya is a new manager for the retirement system.
Atalaya focuses on three principal asset classes — financial assets, real estate and corporate, according to the firm's website.
As of Aug. 5, TCDRS committed a total of $567 million to four direct lending funds managed by four investment firms, including the Atalaya commitment.
In all of 2019, TCDRS committed a total of $986 million to six direct lending strategies run by six money management companies, transaction reports showed.